BHP Billiton declared to have arranged freight for a total of 2.2 million tonnes of iron ore between Port Hedland and Qingdao in 13 Capesize ships in the space of a week. It fixed 12 ships, each to carry 170,000 million tonnes cargoes and one ship to lift a 160,000 million tonnes stem. For full [...]
Reports reveal that there may be no Chinese benchmark iron ore price set this year because Chinese mills cannot be trusted to honour their contracts. For full story, click here
Baffinland Iron Mines Corporation declared excellent drilling results from its fine iron ore trial cargo shipped to ThyssenKrupp Steel in October 2008. For full story, click here
India’s iron ore prices remained flat last week with China demanding a low but steady flow of mostly low grade ores, even as its steel prices hit a five-month low. For full story, click here
As per Mr Yang Siming, board chairman of Nanjing Iron and Steel Group, iron ore benchmark price in this year can be settled every quarter on the basis of steel market performance and forecasts. For full story, click here
BHP Billiton Ltd., the world’s leading mining company, sold 28 percent of its iron ore output at cheaper spot prices after customers deferred deliveries ahead of a forecast dip in contract prices. For full story, click here
Pingxiang Iron & Steel, a privately owned Chinese steel maker, reported that it was buying iron ore at discounts of as much as 46 per cent because of an oversupply due to dwindling demand. For full story, click here
Delhi-based Amtek Auto group which is promoted by Arvind Dham, is in advanced negotiations to acquire OCL Iron and Steel Ltd. controlled by Raghu Hari Dalmia. For full story, click here
AK Steel Holding Corp., the fourth- biggest U.S.-based steelmaker by 2008 sales, posted a narrower first-quarter loss than analysts expected as costs declined. However, AK Steel may benefit from lower iron-ore prices expected in the second half and a dip in operating costs at its Middletown, Ohio, facility because of upgrades and a new long- [...]
Singapore Exchange reported that it will launch the world’s first cleared over the counter iron ore swaps contract, moving the massive market a small step closer to floating prices. For full story, click here
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